Ticker,
From Rio Tinto's website:
12 February 2009
Joint ventures and convertible bonds to deliver US$19.5 billion in cash to Rio Tinto
The Boards of Rio Tinto plc and Rio Tinto Limited (together "Rio Tinto") announce today that they are unanimously recommending to shareholders a transaction with Aluminium Corporation of China ("Chinalco"), a leading Chinese ...................
Transaction highlights
From Rio Tinto's website:
12 February 2009
Joint ventures and convertible bonds to deliver US$19.5 billion in cash to Rio Tinto
The Boards of Rio Tinto plc and Rio Tinto Limited (together "Rio Tinto") announce today that they are unanimously recommending to shareholders a transaction with Aluminium Corporation of China ("Chinalco"), a leading Chinese ...................
Transaction highlights
- Delivers substantial aggregate cash proceeds of US$19.5 billion through:
- Investment by Chinalco in certain aluminium, copper and iron ore joint ventures totalling US$12.3 billion
- The issue of subordinated convertible bonds in two tranches with conversion prices of US$45 and US$60 in each of Rio Tinto plc and Rio Tinto Limited for a total consideration of US$7.2 billion. If converted, the subordinated convertible bonds would increase Chinalco's current shareholding to 19.0% in Rio Tinto plc and 14.9% in Rio Tinto Limited, equivalent to an 18.0% interest in the Rio Tinto Group .................
No mention of Aussie Dollars.
Sun